Word: ceos
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...late 1994. Lerach accused company officials of dumping stock nine months earlier. Although a judge threw out all but one charge, Centigram decided, after nearly a year of fighting, to settle for $1.5 million, a typical corporate approach. "We did an economic analysis," says president and CEO George Sollman. "I calculated that going into court and trying this would cost us between $750,000 and $1 million in legal fees, plus a lot of management time." Instead, he agreed to pay $250,000 toward a settlement, with his insurance companies paying the rest...
...action "strike" suits against firms in such volatile industries as high technology. The suits usually allege that a company "knew or should have known" that "adverse" developments would send its stock plummeting without warning. "Fundamentally, Proposition 211 is a Trojan horse for strike suits," charges Hill. Another chairman and CEO, Larry Ellison of Redwood Shores-based Oracle, brands the proposition "legal terrorism...
...will win this year's race to become America's highest-paid chief executive? With little more than two months remaining in 1996, the favorite by about 50 Rolls-Royce lengths looks to be Larry Coss, 57, a self-effacing former used-car dealer, whose total compensation as CEO of Green Tree Financial Co. in St. Paul, Minnesota, is streaking toward the $100 million mark. Coss, whose company specializes in financing mobile homes, motorcycles and other big-ticket consumer items, walked away with $65.6 million in salary and bonus last year, leaving better-known titans like Sanford Weill...
...CEO Coss founded Green Tree in 1975 to finance trailers and recreational vehicles. Mobile homes remain its biggest business--the company claims 28% of the market--as it diversifies into leasing office products and secured credit cards. Most mobile-home customers are first-time home buyers or retirees with annual incomes of about $26,000; the trailers cost an average of $34,000. Green Tree's break came in the 1980s, when the savings-and-loan crisis drove many thrifts out of the mobile-home market. The company moved quickly into the vacuum. The gamble paid off big when...
Loaded and lonely? Maybe Oprah can help. Oracle CEO Lawrence Ellison, a thrice-divorced billionaire, mentioned on Oprah that he was hoping to marry again. He didn't mention that he was worth $6 billion, has a predilection for things Japanese and owns several flashy cars. Nonetheless, both Oracle and Oprah were flooded with offers...